Phoenix Real Estate Market Update: What Buyers and Sellers Need to Know

The Phoenix housing market is shifting in a way that every homeowner, buyer, and investor should understand. September 2025 data shows that supply is growing, prices are softening, and buyers hold more leverage than they have in years. If you’re considering selling your home in Phoenix, or if you’re a buyer waiting for the right time to make a move, this update will help you navigate the market with confidence.

Key Market Highlights for September 2025

• Inventory is high. At the start of September, there were roughly 23,857 active listings in Greater Phoenix. That’s more than four times the number of buyers in the market right now.

• Prices are cooling. Median price-per-square-foot has dipped to around $280.80.

• Buyers have leverage. The average home is closing about $15,900 below list price.

• Negotiation is essential. Sellers must price smart, stage beautifully, and prepare to meet buyers halfway.

These numbers tell us one clear story: Phoenix is in a buyer’s market.

What a Buyer’s Market Means for Phoenix

A buyer’s market in Phoenix doesn’t just mean more choices. It changes the psychology of the transaction. Buyers feel confident making offers below asking, requesting concessions, or walking away if a home doesn’t check all their boxes.

For sellers, this means:

• Days on market are stretching longer.

• Overpricing is riskier than ever.

• The homes that sell quickly are the ones that are well-staged, well-priced, and move-in ready.

For buyers, it means opportunity:

• More negotiating power on price.

• Higher likelihood of seller concessions (credits for repairs, closing costs).

• Room to be selective, without rushing into bidding wars.

Advice for Phoenix Home Sellers

If you’re thinking about selling your home in Phoenix, don’t panic. Homes are still selling — but strategy matters more than ever.

Here are three ways to stand out:

1. Price to Attract, Not Chase

Listing at “yesterday’s market” numbers can backfire. A realistic, competitive price will bring serious buyers through the door and create momentum.

2. Elevate Presentation

In a crowded market, homes that shine will sell first. Invest in professional staging, fresh paint on high-traffic trim, updated lighting, and clean, clutter-free spaces. These small touches can make buyers feel like the home is “finished” and worth the price.

3. Partner with a Local Expert

The Phoenix housing market has neighborhood-by-neighborhood nuances. A trusted advisor who knows where buyers are active — and what they’re willing to pay — is invaluable.

Advice for Phoenix Home Buyers

For buyers, this is your moment. With inventory high and sellers motivated, you can shop with intention.

• Be selective: Tour multiple properties, compare value, and don’t feel pressured.

• Negotiate wisely: Beyond price, ask for closing cost credits, appliance replacements, or repair allowances.

• Think long-term: Phoenix continues to grow in population and job opportunities. Buying now, even in a cooling market, positions you for future equity.

What Makes Phoenix Different Right Now?

The Phoenix housing market often moves differently than coastal metros. While other regions may see volatility, Phoenix benefits from:

• Strong inbound migration from states like California and Illinois.

• Continued demand for second homes and investment properties.

• A growing design-build scene that offers buyers elevated lifestyle options.

This balance of cooling prices and long-term growth makes Phoenix a fascinating place to watch — and invest.

Should You Wait or Act Now?

It’s the question everyone asks: Should I buy or sell now, or wait?

• Buyers: With inventory high and prices easing, now is a rare opportunity to purchase with leverage. Waiting may bring slightly lower prices, but it also risks higher interest rates.

• Sellers: Selling in a buyer’s market requires strategy, but life changes (job moves, upsizing, downsizing) often can’t wait. The key is positioning your home correctly from day one.

Elevated Living in Phoenix

At Elevated Home, our mission is simple: help people experience joy, live connected, and elevate their lives through real estate and design. Whether you’re considering selling your home in Phoenix or buying your next one, you deserve guidance that blends market expertise with creativity and care.

📩 Ready to talk about your goals? DM me today or visit Elevated Home Real Estate.